With the fresh capital, the firm plans to focus on early stage startups, which plans to close pre-Series A funding rounds.ETtech | Updated: September 27, 2016, 18:04 IST

Venture capital firm YourNest India has launched a second fund with Rs 300 crore corpus. The fresh fund has been raised from several Indian HNIs, Alternate Investment Funds and Fund-of-Funds, reports Mint.

With the fresh capital, the Gurgaon-based firm plans to focus on early stage startups and write larger cheques. The venture firm will invest across 20-35 technology and technology-enabled startups, starting with about 4-8 ventures this year.

In the next 3-4 years, YourNest plans to invest in 25-30 technology startups and in sectors across internet of things, electronic system design, artificial intelligence, advanced robotics, enterprise software and mobile internet.

With the first fund which had a corpus of Rs 90 crore, the company had invested in 16 startups which includes speech recognition company Uniphore, fintech player Rubique, discovery platform Mycity4kids and discovery app Fashalot among others

ET had earlier this month reported that the firm was planning to raise Rs 300 crore and was awaiting regulatory approval for the new fund. The firm currently invests through its Rs 90 crore fund, of which 30% was still left to be deployed, said Girish Shivani to ET.

The company had also further added that it hopes to fund last-stage funding rounds.

YourNest was founded in 2011 by Sunil Goyal, Sanjay Pande and Girish Shivani who have earlier served at key roles in Bharti Airtel Ltd, fashion e-commerce portal Utsav Fashion and at Teradata India respectively.

The company has also roped in Vivek Mansingh, who earlier served as president and as a general partner at Cisco Systems and Dell India R&D respectively. In his new role, he will co-create successful global businesses. In the last two years, Mansingh has incubated five technology startups and is engaged with several YourNest portfolio companies and was also an investor in YourNest’s first fund I.

At a juncture when funds have dried up and investors are majorly betting on early-stage startups and primarily focusing on parameters like uniqueness of product and scalability, it will be interesting to see the startups which lures the investors.